618 Ramseur St Durham, NC 27701-4686

Property Details for 618 Ramseur St

Lot size

0.92 lot acres

Property size

2,450 SF

Zone code

DD-S1

Property type

Manufacturing properties

APN

102865

APU

102865

Description

This exceptional investment opportunity presents a 3,910 square foot executive office condo located at 618 E Ramseur St, Durham, NC 27701. The property, a beautifully renovated historic structure (originally built in 1930 and completely updated in 2020), offers a compelling sale/leaseback arrangement with a 10-year absolute NNN lease in place, ensuring minimal owner responsibilities. The building boasts 100% occupancy and a strong net operating income (NOI) of $142,715, translating to an attractive 6.00% capitalization rate. This Class B property is zoned DD-S1 and features ample on-site surface parking. The single-tenant lease provides consistent cash flow and a secure investment. Its prime downtown Durham location offers unparalleled convenience, just minutes from Duke University, Research Triangle Park, the new Apple RTP campus, and RDU Airport. The surrounding area is vibrant, with numerous restaurants, breweries, and easy access to the Durham Bulls Ballpark. This 39% condo interest in the aggregate property represents a rare opportunity to acquire a high-performing asset in a thriving market. The asking price is $2,400,000.

Location Insight

City

Durham

County

Durham

State

North Carolina

Longitude

-78.8961

Latitude

35.9897

CBSA code

20500

CBSA name

DURHAM-CHAPEL HILL, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments